China Is Planning to Ban Bitcoin Mining Cryptoglobe

China Is Planning to Ban Bitcoin Mining

China Is Planning to Ban Bitcoin Mining
China Is Planning to Ban Bitcoin Mining
The government of the People's Republic of China is reportedly considering bringing an end to all crypto mining in the country.
On Tuesday (April 9), Reuters reported that China's National Development and Reform Commission (NDRC) had announced on Monday that it was "seeking public opinions on a revised list of industries it wants to encourage, restrict or eliminate"; this list, which is known as "Guiding Catalogue for the Adjustment of Industrial Structure", has been issued since 2005.
The Guiding Catalogue is "a document supplementary" to the "Interim Regulation on Promoting the Adjustment of Industrial Structure". When it was first issued, it covered "more than 20 industries that include agriculture, water conservancy, coal, power, transportation, information industry, iron and steel, nonferrous metals, petrochemical industry, building materials, machinery, light and textile industries, service industry, environmental and ecological protection, conservation and comprehensive use of resources, and etc," and in total, there were "539 articles in the encouraged category, 190 in the restricted category and 399 in the to-be-eliminated category."
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